ISRAEL TRUTH TIMES

A blog dedicated to investigating events as they occur in Judea and Samaria, in Israel and in the world, and as they relate to global powers and/or to the Israeli government, public figures, etc. It is dedicated to uncovering the truth behind the headlines; and in so doing, it strives to do its part in saving Judea and Samaria, and by extension, Israel and the Jewish People, from utter destruction at the hands of its many external and internal enemies.

Friday, April 15, 2011

Several writers have noted the odd fact that the Libyan rebels took time out from their rebellion in March to create their own central bank - this before they even had a government. Robert Wenzel wrote in the Economic Policy Journal:

I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising. This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences.

Alex Newman wrote in the New American:

In a statement released last week, the rebels reported on the results of a meeting held on March 19. Among other things, the supposed rag-tag revolutionaries announced the "[d]esignation of the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and appointment of a Governor to the Central Bank of Libya, with a temporary headquarters in Benghazi."

Newman quoted CNBC senior editor John Carney, who asked,

"Is this the first time a revolutionary group has created a central bankwhile it is still in the midst of fighting the entrenched political power? It certainly seems to indicate how extraordinarily powerful central bankers have become in our era."

Another anomaly involves the official justification for taking up arms against Libya. Supposedly it's about human rights violations, but the evidence is contradictory. According to an article on the Fox News website on February 28:

As the United Nations works feverishly to condemn Libyan leader Muammar al-Qaddafi for cracking down on protesters, the body's Human Rights Council is poised to adopt a report chock-full of praise for Libya's human rights record.

The review commends Libya for improving educational opportunities, for making human rights a "priority" and for bettering its "constitutional" framework. Several countries, including Iran, Venezuela, North Korea, and Saudi Arabia but also Canada, give Libya positive marks for the legal protections afforded to its citizens - who are now revolting against the regime and facing bloody reprisal.

Whatever might be said of Gaddafi's personal crimes, the Libyan people seem to be thriving. A delegation of medical professionals from Russia, Ukraine and Belarus wrote in an appeal to Russian President Dmitry Medvedev and Prime Minister Vladimir Putin that after becoming acquainted with Libyan life, it was their view that in few nations did people live in such comfort:

[Libyans] are entitled to free treatment, and their hospitals provide the best in the world of medical equipment. Education in Libya is free, capable young people have the opportunity to study abroad at government expense. When marrying, young couples receive 60,000 Libyan dinars (about 50,000 US dollars) of financial assistance. Non-interest state loans, and as practice shows, undated. Due to government subsidies the price of cars is much lower than in Europe, and they are affordable for every family. Gasoline and bread cost a penny, no taxes for those who are engaged in agriculture. The Libyan people are quiet and peaceful, are not inclined to drink, and are very religious.

They maintained that the international community had been misinformed about the struggle against the regime. "Tell us," they said, "who would not like such a regime?"

Even if that is just propaganda, there is no denying at least one very popular achievement of the Libyan government: it brought water to the desert by building the largest and most expensive irrigation project in history, the US$33 billion GMMR (Great Man-Made River) project. Even more than oil, water is crucial to life in Libya.

The GMMR provides 70% of the population with water for drinking and irrigation, pumping it from Libya's vast underground Nubian Sandstone Aquifer System in the south to populated coastal areas 4,000 kilometers to the north. The Libyan government has done at least some things right.

Another explanation for the assault on Libya is that it is "all about oil", but that theory too is problematic. As noted in the National Journal, the country produces only about 2% of the world's oil. Saudi Arabia alone has enough spare capacity to make up for any lost production if Libyan oil were to disappear from the market. And if it's all about oil, why the rush to set up a new central bank?

Another provocative bit of data circulating on the Net is a 2007 "Democracy Now" interview of US General Wesley Clark (Ret). In it he says that about 10 days after September 11, 2001, he was told by a general that the decision had been made to go to war with Iraq. Clark was surprised and asked why. "I don't know!" was the response. "I guess they don't know what else to do!" Later, the same general said they planned to take out seven countries in five years: Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran.

What do these seven countries have in common? In the context of banking, one that sticks out is that none of them is listed among the 56 member banks of the Bank for International Settlements (BIS). That evidently puts them outside the long regulatory arm of the central bankers' central bank in Switzerland.

The most renegade of the lot could be Libya and Iraq, the two that have actually been attacked. Kenneth Schortgen Jr, writing on Examiner.com, noted that "[s]ix months before the US moved into Iraq to take down Saddam Hussein, the oil nation had made the move to accept euros instead of dollars for oil, and this became a threat to the global dominance of the dollar as the reserve currency, and its dominion as the petrodollar."

According to a Russian article titled "Bombing of Libya - Punishment for Ghaddafi for His Attempt to Refuse US Dollar", Gaddafi made a similarly bold move: he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar. Gaddafi suggested establishing a united African continent, with its 200 million people using this single currency.

During the past year, the idea was approved by many Arab countries and most African countries. The only opponents were the Republic of South Africa and the head of the League of Arab States. The initiative was viewed negatively by the USA and the European Union, with French President Nicolas Sarkozy calling Libya a threat to the financial security of mankind; but Gaddafi was not swayed and continued his push for the creation of a united Africa.

And that brings us back to the puzzle of the Libyan central bank. In an article posted on the Market Oracle, Eric Encina observed:

One seldom mentioned fact by western politicians and media pundits: the Central Bank of Libya is 100% State Owned ... Currently, the Libyan government creates its own money, the Libyan Dinar, through the facilities of its own central bank. Few can argue that Libya is a sovereign nation with its own great resources, able to sustain its own economic destiny. One major problem for globalist banking cartels is that in order to do business with Libya, they must go through the Libyan Central Bank and its national currency, a place where they have absolutely zero dominion or power-broking ability. Hence, taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda for absorbing Libya into its hive of compliant nations.

Libya not only has oil. According to the International Monetary Fund (IMF), its central bank has nearly 144 tonnes of gold in its vaults. With that sort of asset base, who needs the BIS, the IMF and their rules?

All of which prompts a closer look at the BIS rules and their effect on local economies. An article on the BIS website states that central banks in the Central Bank Governance Network are supposed to have as their single or primary objective "to preserve price stability".

They are to be kept independent from government to make sure that political considerations don't interfere with this mandate. "Price stability" means maintaining a stable money supply, even if that means burdening the people with heavy foreign debts. Central banks are discouraged from increasing the money supply by printing money and using it for the benefit of the state, either directly or as loans.

BIS regulations serve only the single purpose of strengthening the international private banking system, even at the peril of national economies. The BIS does to national banking systems what the IMF has done to national monetary regimes. National economies under financial globalization no longer serve national interests.

... FDI [foreign direct investment] denominated in foreign currencies, mostly dollars, has condemned many national economies into unbalanced development toward export, merely to make dollar-denominated interest payments to FDI, with little net benefit to the domestic economies.

He added, "Applying the State Theory of Money, any government can fund with its own currency all its domestic developmental needs to maintain full employment without inflation." The "state theory of money" refers to money created by governments rather than private banks.

The presumption of the rule against borrowing from the government's own central bank is that this will be inflationary, while borrowing existing money from foreign banks or the IMF will not. But all banks actually create the money they lend on their books, whether publicly owned or privately owned. Most new money today comes from bank loans. Borrowing it from the government's own central bank has the advantage that the loan is effectively interest-free. Eliminating interest has been shown to reduce the cost of public projects by an average of 50%.

And that appears to be how the Libyan system works. According to Wikipedia, the functions of the Central Bank of Libya include "issuing and regulating banknotes and coins in Libya" and "managing and issuing all state loans". Libya's wholly state-owned bank can and does issue the national currency and lend it for state purposes.

That would explain where Libya gets the money to provide free education and medical care, and to issue each young couple $50,000 in interest-free state loans. It would also explain where the country found the $33 billion to build the Great Man-Made River project. Libyans are worried that North Atlantic Treaty Organization-led air strikes are coming perilously close to this pipeline, threatening another humanitarian disaster.

So is this new war all about oil or all about banking? Maybe both - and water as well. With energy, water, and ample credit to develop the infrastructure to access them, a nation can be free of the grip of foreign creditors. And that may be the real threat of Libya: it could show the world what is possible.

Most countries don't have oil, but new technologies are being developed that could make non-oil-producing nations energy-independent, particularly if infrastructure costs are halved by borrowing from the nation's own publicly owned bank. Energy independence would free governments from the web of the international bankers, and of the need to shift production from domestic to foreign markets to service the loans.

If the Gaddafi government goes down, it will be interesting to watch whether the new central bank joins the BIS, whether the nationalized oil industry gets sold off to investors, and whether education and healthcare continue to be free.

Visitors on ISRAEL TRUTH TIMES

LIVE CHAT/ BULLETIN BOARD

I will bless them that bless thee, and curse them that curse thee...ואברכה מברכיך ומקללך אאר ונברכו בך כל משפחת האדמה

Am Yisrael wants the Temple rebuilt!

A survey conducted by the Panels Insitute revealed that 64 % of the Israeli public , and half of secular Israelis, want the Temple rebuilt. 97% of respondents know that the Temple was destroyed on Tisha B'Av ( Ninth of Av).

The survey's second question queried the public’s desire to rebuild the Temple. Sixty-four percent responded favorably and 36 percent said no. Analysis of the answers revealed that not only hareidi-religious and other religious Jews want to rebuild the Temple, (100 percent and 97 percent respectively), but also the traditional public (91 percent) and many secular Jews (47 percent) do as well.

Just a reminder to our many enemies, specially 'you know who' (below ), from Isaiah the Prophet:

Isaiah 49:24-26

"Can prey be taken back from a strong one; can the righteous captive escape?

But thus said Hashem: Even the captive of the strong can be taken back, and the prey of the mighty can escape; I, Myself, will take up your cause, and I, MYSELF, WILL SAVE YOUR CHILDREN.

And I will feed your oppressors their own flesh, and as with sweet wine shall they become drunk; then all flesh shall know that I am Hashem, your Savior and your Redeemer, the Mighty One of Israel."

Words of wisdom: what to do to save lives and preserve freedom of the Jewish People in Israel:

... Coming from a traditionally very passive and peaceful sector, United Torah Judaism:

"There was no reason for [the mother] to be in jail... Now we all understand that these things can be stopped by burning garbage and ripping out traffic lights”

MK Meir Porush, UTJ - about the riots in Jerusalem

A word of wisdom...coming from what was once the Land of the Free...

"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds."Samuel Adams, American Revolutionary

Very appropriate quote , although more than a century old.

"There are laws to protect the freedom of the press's speech,

but none that are worth anything to protect the people from the press."

--Mark Twain

... And more truths about truth:

"A really efficient totalitarian state would be one in which the all-powerful executive of political bosses and their army of managers control a population of slaves who do not have to be coerced, because they love their servitude.

To make them love it is the task assigned, in present-day totalitarian states, to ministries of propaganda, newspaper editors and schoolteachers.... The greatest triumphs of propaganda have been accomplished, not by doing something, but by refraining from doing.

Great is truth, but still greater, from a practical point of view, is silence about truth."

"When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic."Dresden James.

We live in times of unprecedented dangers, therefore,

"When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle."Edmund Burke

"Nobody made a greater mistake than he who did nothing, because he could only do a little."

Edmund Burke

PICTORIAL REVIEW OF WHAT REALLY HAPPENED IN GUSH KATIF

Here below, you will be able to see for yourselves what REALLY happened during the Gush Katif expulsion; how the GOOD JEWS of ISRAEL were BETRAYED by their so-called leaders.

Link provided by Barry Chamish.

Now you understand whom we are dealing with in this country: TRAITORS. They pretend to have the nation's best interests at heart, but this is all a mirage, a lie; either they are self-serving, or THEY WORK FOR THE ENEMY, and they cannot be trusted.

Only TRUE and FAITHFUL LEADERSHIP will get us out of this morass; AND G-D'S INFINITE MERCY, B"H.

We are waiting for Mashiach to come and rescue us; meanwhile, we do what we can to HELP THE GEULAH.

Gush Katif Betrayal, "MERAGLIM 1"

Gush Katif Betrayal, "MERAGLIM 2"

Gush Katif Betrayal, "MERAGLIM 3"

Gush Katif Betrayal, "MERAGLIM 4"

QUOTES BY THE ENEMY, AND ABOUT THE ENEMY'S TACTICS

Here below are quotes related to the enemy's nature, tactics and philosophy.

Always remember: LEARN FROM YOUR ENEMY, EMULATE HIM, but for the FORCES OF GOOD!

Whenever he does A, do A, in reverse.

He does B, do B, in reverse.

We might not have his financial resources or capabilities, but we have a much greater ally: HASHEM.

Remember David and Goliath. We are David, and with God's help, we can defeat Goliath. All we have to do is UNMASK THE EVIL GIANT, UNMASK HIS TACTICS, UNDERSTAND HIS DECEPTIONS, AND EXPOSE THEM TO THE BRIGHT LIGHT OF DAY.

AND PRAY TO GOD FOR HELP.

AND ALWAYS, ONLY STRIVE TO DO GOOD,

SO THAT WE CAN BE A FORCE OF GOOD AGAINST THESE MESSENGERS OF DARKNESS.

"PROPAGANDA CANNOT TAKE TIME OFF"

"Propaganda cannot take time off"

... one of the key rules ofmodern disinformation, which is that the required message must be repeated very frequently if it is to pass...

THE STATE IS THE ENEMY!

"You had to attack civilians, the people, women, children, innocent people, unknown people far removed from any political game. The reason was quite simple. They were supposed to force these people, the ... public, to turn to the state to ask for greater security.

This is the political logic which remains behind all the massacres and the bombings which remain unpunished, because the state cannot convict itself or declare itself responsible for what happened."

OBAMA THE MUSLIM

THE DARK SIDE OF THE U.S.A.: AS IN SERBIA, SO IN YESHA...

... in 1998, the US State Department and intelligence agencies decided to use the Kosovo Liberation Army to get rid of Slobodan Miloševic. "The US agenda was clear. When the time was right they were going to use the KLA to provide the solution to the political problem" – the "problem" being, as Marshall explains earlier, Miloševic’s continued political survival. This meant supporting the KLA’s terrorist secessionism, and later fighting a war against Yugoslavia on its side. Marshall quotes Mark Kirk, a US naval intelligence officer, saying that, "Eventually we opened up a huge operation against Miloševic, both secret and open." The secret part of the operation involved not only things like stuffing the various observer missions which were sent into Kosovo with officers from the British and American intelligence services, but also – crucially – giving military, technical, financial, logistical and political support to the KLA, which, as Marshall himself admits, "smuggled drugs, ran prostitution rackets and murdered civilians.""Bags of money had been brought in for years....Organisations controlled by George Soros also played a crucial role, as they were later to do, in 2003–4, in Georgia....The so-called "democrats" were, in reality, nothing but foreign agents."

Tim Marshall, Sky TV

MAKE SURE TO WATCH THE PPS"Will there soon be an anti-Jewish genocide in Israel?"

Land of Israel Crusader

I am a Jew living in the Land of Judea (Eretz Yehuda), which was given to us, the Jewish people, by G-D Himself. I love this place very much; I will do my best to develop it, cherish it, protect it, turn it into the paradise it was always meant to be - and defend it against any and all enemies of Am Yisrael.